DALLAS, Feb. 17, 2005 (PRIMEZONE) -- IElement, Inc., today announced that the Company renewed over $25,000 in monthly recurring revenue for the fourth quarter of 2004. The Company's voice and data customers renewed their services with IElement for a minimum of twelve months, and many of the contracts were renewed with 24-36 month extensions. The aggregate contracted revenue renewed for the quarter ending December 31, 2004, will exceed $365,000 over the next 36 months. This forecast is based on the assumption that the customers will abide by the binding terms and conditions set forth in their agreements with IElement. (IElement merged with MailKey Corporation (OTCBB:MAKY) in January 2005.)
Ivan Zweig, chief executive officer of IElement said, "We really pride ourselves upon providing first-class customer service. Fortunately, a nice by-product of outstanding service is customer loyalty. This loyalty is being shown on a monthly basis as a majority of our customers renew and/ or add new products and services to their existing contracted services with IElement.
IElement currently combats customer attrition by providing exceptional customer service and cost-effective, innovative products and services. The company plans to minimize any future erosion of revenues by offering IElement hosted and managed services to their customer base and to future customers, so that in effect the Company's SME clients will have one voice, data, and IT managed services provider that few if any competitors can displace. Some of the current and future products IElement will introduce to its customers include, but are not limited to, managed Microsoft Exchange, Blackberry Enterprise services, cellular service as an MVNO (Mobile Virtual Network Provider), VOIP, Storage Area Networks, as well as our proprietary MailKey anti-spam and virus protection.
About IElement
IElement is a facilities-based nationwide communications service provider that provides state-of-the-art telecommunications services to small and medium sized enterprises ("SMEs"). IElement provides broadband data, voice and wireless services by offering integrated T-1 lines as well as a Layer 2 Private Network solutions that provide SMEs with dedicated Internet access services, customizable business solutions for voice, data, wireless and Internet, and secure communications channels between the SME offices, partners, vendors, customers and employees without the use of a firewall or encryption devices. IElement has a network presence in 18 major markets in the United States, including facilities in Los Angeles, Dallas, and Chicago. For more information on IElement, please visit http://www.ielement.com
About MailKey
MailKey is a messaging security and management company. It is developing its Envoy technology platform to enable scaleable filtration, control and management of messages through a central management point. MailKey is exploring business development opportunities for the Envoy platform in the wireless Mobile Network Operator, gaming, and other markets. In November 2004, MailKey announced that it had been appointed as a Premium Member of the Orange Partner program to develop next-generation mobile message management solutions for mobile subscribers. Orange is one of the world's leading wireless Mobile Network Operators, with a 50 million-plus customer base in 19 countries. For more information on MailKey, please visit http://www.mailkey.com.
Safe Harbor Statement
This news release contains forward-looking statements that are subject to certain risks and uncertainties that may cause actual results to differ materially from those projected on the basis of these statements. The words ``estimate'', ``project'', ``intends'', ''expects'', ``believes'' and similar expressions are intended to identify forward-looking statements. Such forward-looking statements are made based on management's beliefs, as well as assumptions made by, and information currently available to, management pursuant to the ''safe-harbor'' provisions of the Private Securities Litigation Reform Act of 1995. For a more complete description of these and other risk factors that may affect the future performance of the Company, see ``Risk Factors'' in the Company's Annual Report on Form 10-KSB and its other filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. The Company undertakes no obligation to disclose any revision to these forward-looking statements to reflect events or circumstances after the date made or to reflect the occurrence of unanticipated events.